Cincinnati Bearcats. The American logo in Cincinnati's colors. The Cincinnati Bearcats are the athletic teams that represent the University of Cincinnati. The teams are members of the American Athletic Conference (The American), which from 1979 to 2013 was known as the Big East Conference.
You must reduce the basis of property by the depreciation allowed or allowable, whichever is greater. Depreciation allowed is depreciation you actually deducted (from which you received a tax benefit). Depreciation allowable is depreciation you are entitled to deduct.
At its core, depreciation is simple: You figure out how much the property is worth for tax purposes (the propertyâs basis), how long the IRS says you must depreciate it for (its Â­recovery period), and then you deduct a certain percentage of its basis each year during its recovery period.